Xenith Robotics (381620) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Xenith Robotics earns money by laying out production lines on the factory floor and supplying industrial robots and automation equipment, with smart factories and factory automation as its backbone; as a small-cap with a market cap of ₩74.1 billion, large contracts and financing disclosures have an outsized effect on its revenue and share count. On April 30, 2026, it signed a ₩3.0 billion supply contract (13.3% of recent revenue), and in November-December 2025 it decided to issue convertible bonds (conversion price ₩15,893, ₩3.0 billion each for working capital). What stands out lately is that, on the strength side, a P/B of 1.53x is lower than peers, a current ratio of 398% gives it the stamina to weather the loss-making phase, and the share price has fallen to -69% from its 52-week high; on the caution side, revenue shrank sharply over the past year and operating and net profit swung to a loss, so the current undervaluation is an asset value that shines when profit recovers rather than one backed by present earnings — meaning one must confirm the inflection where new orders convert into revenue and the loss narrows.
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30-second brief
Pulled directly from the computed values below — not a separately written opinion.
What do the SourceComputedEstimateReading tags mean?
Source filings and exchange data · Computed calculated from public data · Estimate our own unverified projection · Reading drafted automatically, then rule-checked. See AI & Automation.
Core valuation metric
This stock's effective sub-sector is “Robotics” (Shipbuilding, Machinery, Defense & Power Equipment · Machinery), a type typically read first through EV/Sales.
Robotics is an early-stage growth market, so revenue can rise while profit stays thin or negative under heavy R&D and capital spending. Earnings-based multiples distort in that setting, so enterprise-value-to-sales (EV/Sales, alongside price-to-sales) is the first lens.
Price against earnings alone becomes unstable when earnings swing. Reading it together with price against assets helps gauge the downside.
That said, earnings are swinging with the industry cycle right now, so this metric is best viewed alongside asset value and the demand backdrop.
This note explains how each sector is typically valued and is educational context only, not investment advice.
At-a-glance assessment financial health · growth · profitability · valuation
- The most recent full-year net result was a loss.
- Revenue fell 64.3% year over year (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 21.5% lower than a year earlier.
- ROE is -15.1% (controlling-interest basis). It is below the sector average.
- Operating margin is -54.3%.
- A sector-metric and in-depth research verdict — see “Valuation vs peers” below for the basis.
Ownership & governance As of 2025-12-31
Largest shareholder Bae Sung-kwan 36.59% (individual)
Controlling bloc incl. related parties 38.46%
With the controlling bloc holding 38%, the ownership structure is stable.
🔎 In-depth analysis Reading
Xenith Robotics is a company that builds robots and systems to automate factories. According to its business report, the backbone of the business is smart factories (factories automated by applying technologies such as AI, big data and digital twins across the whole process from planning and design to production) and factory automation (bringing in industrial robots and computer systems to make processes unmanned and automated). In other words, it earns money by laying out production lines on the factory floor and supplying automation equipment. As a small-cap with a market cap of ₩74.1 billion, it is worth watching, alongside the business itself, how a single disclosure (a large contract, financing) affects revenue and the share count.
The latest close is ₩6,330 and the market capitalization is ₩83.0 billion. The price sits above its 20-day moving average (₩5,586) and below its 60-day moving average (₩7,837). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 53.1, a neutral level. The one-month change is +11.2%, the three-month change is -34.1%, and the position relative to the 52-week high is -65.5%. Relative strength versus the KOSDAQ is 38 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 37% of all stocks. Over the past three months it lagged the index by 10.7%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
The most recent annual (2025) revenue was ₩22.7 billion, with an operating loss of ₩12.3 billion and a net loss of ₩7.3 billion — a loss. The operating margin of -54.3% and an ROE (how much profit is generated on shareholders' equity in a year) of -15.1% put profitability in negative territory at present. The financial structure itself, however, is relatively resilient: the debt ratio (debt against equity) is 151%, and the current ratio (assets convertible to cash within a year against debt due within a year) is 398%, leaving room in short-term payment capacity. On valuation, because profit is in the red the P/E ratio (how many times a year's profit the price is) cannot be produced, so it is viewed via P/B (how many times book value the price is). The current P/B is 1.38x, below peers (Raon Robotics at 3.65x, N Robotics at 1.78x, TXR Robotics at 2.54x). On a book-value basis it is on the cheaper side, which serves as a starting line where re-valuation room opens up when profit turns positive.
The top line shrank quickly of late. 2025 revenue of ₩22.7 billion was 64.3% lower than the prior year (₩63.5 billion), and Q1 2026 revenue of ₩4.3 billion was also down 21.5% year over year. Operating and net profit swung from a gain in 2024 to a loss in 2025 (operating loss ₩12.3 billion, net loss ₩7.3 billion). This year's revenue expectation is around ₩17.8 billion, a figure reflecting confirmed Q1 results and the business's quarterly pattern. In other words, this year is not yet a picture of the top line growing beyond last year, and until an inflection out of the loss is confirmed, the key is whether demand recovery and new orders link through to revenue. Whether the ₩3.0 billion supply contract signed in April 2026 (13.3% of recent revenue) leads to recurring transactions could be a clue to a top-line rebound.
Recent disclosures center on orders and financing. On April 30, 2026, it signed a ₩3.0 billion single-supply contract (13.3% of recent revenue); this amount and delivery term are the crux of future revenue recognition, and whether it is a one-off or a recurring transaction shapes the medium-term reading. In November and December 2025, it decided to issue convertible bonds (corporate bonds that can be converted into shares) (conversion price ₩15,893, ₩3.0 billion each for working capital). The incoming funds help operations, but since the share count can rise if conversion rights are exercised, it is worth viewing the use of the funds and the share-count change together.
The strong points are clear. The share price against book value (P/B of 1.53x) is lower than peers, and with a current ratio of 398% there is room in its short-term finances, so it has the stamina to weather the loss-making phase. The price has also fallen to -69% from its 52-week high, a state where expectations have dropped considerably. On the other hand, the cautions are just as clear. With revenue having shrunk sharply over the past year and operating and net profit having swung to a loss, the current undervaluation is "an asset value that shines when profit recovers" rather than an undervaluation backed by present earnings. In sum, in a phase where new orders link through to revenue and the inflection where the loss narrows is confirmed, the low P/B and ample liquidity work as strengths; in a phase where the top-line decline and losses drag on, those strengths can be obscured.
🔎 Valuation vs peers Undervalued
A peer set within robotics adjacent by market capitalization.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Laon Robotics | 34.45x | 2.82x | 10.33% |
| N Robotics | 21.95x | 1.97x | 10.84% |
| TXR Robotics | — | 4.74x | -27.69% |
The primary reference was a public-data peer set within robotics adjacent by market cap. The current P/E ratio (how many times a year's profit the price is) is not available, and the P/B (how many times book value the price is) is 1.80x. That said, for smaller-cap names, profit swings and financing filings have an outsized effect, so no firm conclusion was drawn from last year's confirmed-results metrics alone. The basis for the outlook box is a DART seasonality approximation.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩17.8 billion | — | — |
| Next quarter | Q2 2026 | ₩5.6 billion | — | — |
Price history Close · MA20 · MA60
The latest close is ₩6,330 and the market capitalization is ₩83.0 billion. The price sits above its 20-day moving average (₩5,586) and below its 60-day moving average (₩7,837). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 53.1, a neutral level. The one-month change is +11.2%, the three-month change is -34.1%, and the position relative to the 52-week high is -65.5%. Relative strength versus the KOSDAQ is 38 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 37% of all stocks. Over the past three months it lagged the index by 10.7%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Relative performance stock vs index · start = 100
Excess return vs index · 3M -10.67% / 6M -37.43% / 12M -11.74%
Key metrics Computed vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B of 1.80x is below the sector median (4.51x).
Enterprise value (EV)
EV = market cap + net debt. It reflects cash and debt, so it captures the real cost of the whole business that market cap alone misses; lower multiples are cheaper relative to earnings or sales.
Profitability & financials
The operating margin is -54.3%. The debt ratio is 58.9%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $43.1M | $44.6M | $15.9M | -64.29% ↓ slower |
| Operating profit | $2.2M | $3.0M | -$8.6M | -385.96% ↓ slower |
| Net profit | $2.2M | $4.2M | -$5.1M | -221.15% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | — | $43.1M | $44.6M | $15.9M |
| Operating profit | — | — | $2.2M | $3.0M | -$8.6M |
| Net profit | — | — | $2.2M | $4.2M | -$5.1M |
| Revenue CAGR | 2-yr avg -39.19% | ||||
Revenue fell 64.3% year over year (2023 ₩61.3 billion → 2024 ₩63.5 billion → 2025 ₩22.7 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Operating profit fell 386.0% year over year. The decline widened. Over the 3 years on record, revenue compound annual growth (CAGR) is -39.2%. The two-year revenue CAGR is -39.2%. In the most recent quarter (Q1 2026), revenue was 21.5% lower than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- —
Points to watch
- The most recent full year was a loss, so it is worth checking whether profitability recovers.
- Revenue fell 64.3% year over year (3-year trend: mixed).
Recent news & events searched · sourced
- 2026-04-30ContractSingle supply contract signed: contract value ₩3.0 billion · 13.3% of recent revenueThe contract value and term are key to future revenue recognition. Whether it is a one-off or a recurring transaction shapes the medium-term reading. Source
- 2025-12-11Update[Correction] Material-fact report (decision to issue a convertible bond): conversion price ₩15,893 · working capital ₩3.0 billionThis is a disclosure where the purpose of the incoming funds and the share-count change must be viewed together. Where a facility or operating purpose is stated, whether the investment is actually executed and links to revenue is key. Source
- 2025-11-28UpdateMaterial-fact report (decision to issue a convertible bond): conversion price ₩15,893 · working capital ₩3.0 billionThis is a disclosure where the purpose of the incoming funds and the share-count change must be viewed together. Where a facility or operating purpose is stated, whether the investment is actually executed and links to revenue is key. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩6,330 | ₩6,330 | Confirmed | link |
| Latest quarterly results | revenue ₩4.3 billion, operating profit -₩3.1 billion | revenue ₩4.3 billion, operating profit -₩3.1 billion | Confirmed | link |
| Annual results | revenue ₩22.7 billion, operating profit -₩12.3 billion | revenue ₩22.7 billion, operating profit -₩12.3 billion | Confirmed | link |
| Contract disclosure source text | single supply contract signed: contract value ₩3.0 billion · vs recent revenue 13.3% | single supply contract signed: contract value ₩3.0 billion · vs recent revenue 13.3% | Confirmed | link |
| Financing disclosure source text | [amended] : ₩15,893 · ₩3.0 billion | [amended] : ₩15,893 · ₩3.0 billion | Confirmed | link |
| Financing disclosure source text | ₩15,893 · ₩3.0 billion | ₩15,893 · ₩3.0 billion | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-05-14PeriodicQuarterly report
- 2026-04-30Single supply/sales contract
- 2026-03-26Amended filing
- 2026-03-20Shareholders' meeting notice
- 2026-03-13PeriodicAnnual business report
- 2026-03-12Audit report
- 2026-03-03Amended filing
- 2026-02-26Amended filing
- 2026-02-26Shareholders' meeting notice
📖 Plain-language glossary — expand if you are new to this
- P/E
- How many times a year's net profit the price is worth (lower is cheaper relative to earnings). The P/E here is on trailing (last full-year) results; for companies whose earnings swing fast (memory chips and other cyclicals/high-growth), a forward P/E on this year's expected earnings is more accurate.
- P/B
- Price relative to net assets (equity). Around 1x means it trades near book value; below 1x means below book.
- P/S
- Price relative to a year's revenue — useful for growth companies with thin earnings.
- Net debt / EV
- Net debt = interest-bearing debt − cash. Negative means more cash than debt (net cash). EV (enterprise value) = market cap + net debt, closer to what it would cost to buy the whole business.
- EV/EBIT · EV/EBITDA · EV/Sales
- Enterprise value against operating profit (EBIT), EBITDA, or revenue. Unlike P/E these reflect debt and cash; lower is cheaper relative to earnings power or sales.
- FCF / FCF yield
- Free cash flow = operating cash − capex, the cash actually left over. FCF yield = FCF ÷ market cap; higher means more cash generated per unit of market value.
- Intrinsic value (DCF)
- Future free cash flow (or, for some capex-heavy but profitable names, forecast earnings) discounted to today to estimate per-share value. Because it shifts a lot with the discount-rate and growth assumptions, it is shown as a bear/base/bull range, and the basis and assumptions are disclosed in one line beneath it.
- ROE
- How much profit the company earns in a year on its equity (%). Higher means better returns on capital.
- EPS / BPS
- Earnings per share / net assets (book value) per share.
- Operating / net margin
- Profit left from the core business / final profit after tax and interest, per unit of revenue.
- Debt ratio
- Debt relative to equity (%). Higher means more reliance on borrowing (norms vary by sector).
- Current ratio
- Assets convertible to cash within a year against debt due within a year. Above 100% leaves some short-term headroom.
- Interest coverage
- How many times operating profit covers the interest owed. Below 1x means operating profit alone struggles to cover interest.
- Dividend yield / payout ratio
- The year's dividend as a % of today's price / the share of earnings paid out as dividends.
- Revenue CAGR
- Multi-year growth expressed as a single yearly average (compound annual growth rate).
- RSI (short-term signal)
- Whether recent price action is overheated or beaten down. Above 70 is overbought, below 30 oversold.
- MA20 / MA60 (moving averages)
- The 20- and 60-day average price. Price above them signals a firmer short-term trend.
- vs 52-week high
- How far below the past year's peak the price sits now (%).
All figures are for reference only; how they read varies by sector and over time.
Sources: Korea FSC market-price API (data.go.kr), OpenDART, KRX/KIND — public data only.
Bong Stocks presents public-data-based information for reference only. It is not investment advice and contains no target prices, ratings, or buy/sell recommendations. Verify independently before making any decision.